######## surrounding the article denotes it is a “press release”
Classified Ads—This and That
Normally the categories are much longer, and the above are not rotated as often
as they should for our newsletter.
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Here is a full list of people with experience in the leasing industry looking
Cartoon---Get Well Cards
Cook County Proposed 4% Lease Tax Officially Defeated
As cities and counties look for cuts after less state and federal assistance, Chicago, Illinois, passed a balanced 2004 budget totaling almost $3 billion, after making what are considered modest spending cuts and receiving a large infusion of one-time revenue. The Cook County Board also did pass an 82-cent increase in the cigarette tax.
They did not pass a 4% sales tax on leasing. The swing vote on the 17-member body has been Democrat Earlean Collins, who joined the opposition bloc to stop the sales and lease taxes, but did vote in favor of the cigarette tax increase.
After approving an amendment forwarded by Board President John Stroger that would trim $5.49 million in spending, with nearly $3 million coming from the sheriff's department, county commissioners worked late into the night Monday considering more than 100 other amendments.
Commissioners had approved the cigarette tax hike earlier this month--raising the county levy to $1-a-pack--in lieu of a new county lease tax and a hike in the county share of the sales tax that Stroger had sought earlier. In the city, the combination of county, city and federal cigarette taxes will add $2.53 to the price of a pack.
The budget came about after $20 million in extra revenue was found from a legal settlement and the tapping of an indemnity fund. That, combined with the last minute budget cuts, closed the $26 million budget gap.
ELA Fleming All Alone in Anti-Leasing Legislation
by Kit Menkin
WASHINGTON -- Sen. Chuck Grassley (R-Iowa,) chairman of the Committee on Finance, raised the growing momentum toward shutting down, as he calls it, “ abusive leasing tax shelters that allow corporations to claim tax deductions for sewers, bridges and subways that are owned by foreign countries or paid for with U.S. taxpayer dollars.” Not only does he have the U.S. Senate on his side, but the U.S. Congress, plus the U.S. Treasury Department, but apparently full support of the Bush presidential administration.
The full Senate could take up Grassley's leasing loophole closer as early as next week when it considers the FSC-ETI bill, Foreign Sales Corporation/Extraterritorial Income.
Chat forum sites such as at Yahoo and Lessors.com show most of those in the leasing business believe the tax consultants, tax attorneys and accountants who specialize in the tax shelter business are taking advantage of the current tax codes. They appear to agree with the general public, that “tax abuse” has resulted and should be curtailed. Readers to Leasing News have expressed the same view point. It definitely appears that media reports are very one-sided.
The Equipment Leasing Association appears to be alone in their opposition to the measure. Even the Association for Government Leasing and Finance has stated it basically does not affect their member’s transactions. The other leasing companies have yet to make a stand.
There is no debate that the negative publicity and one-sided nature of the reporting have been positive for the leasing industry. The only legislative voice to leasing’s favor has been ELA President Mike Fleming.
Grassley has asked Majority Leader Bill Frist to schedule floor consideration of the FSC-ETI bill as early as possible to avoid European Union sanctions over the FSC-ETI tax regime, which Grassley's bill would replace. Based on his contacts with the majority leader, Grassley expects this to happen the first week of March.
"My initial bill came out before we had as much knowledge on these leasing deals as we have today," Grassley said. "I'm grateful for the Administration's focus on this issue. Not only has the President embraced this issue, but he's also developed it in a substantive way and helped to draw the support of more key members of Congress. As a result, we're closer to shutting off a spigot of tax abuse before it drains the Treasury dry."
"I put forward a fix of this problem last September, and the Finance Committee approved my fix," Grassley said. "The following month, the Finance Committee further exposed these schemes, thanks to anonymous testimony by a brave leasing industry executive who was outraged by these abusive deals. Now the President, the Treasury secretary, and the leaders of the Senate Budget Committee are all on board. We all agree that leasing shelter transactions are trickery at the taxpayers' expense. This great rip-off has to stop."
Yesterday, Leasing News reported that Wachovia, the nation’s fourth-largest banking company and third-largest full-service brokerage, announced it will move into Texas by the end of the year.
In the PBS television documentary about tax shelter abuse, Wachovia was highlighted for a sale/leaseback on a Bochum, Germany under ground sewer, " But through other sources we confirmed that the Bochum sewer lease was a half-billion dollar deal involving the fifth largest U.S. bank -- Wachovia. (Last year, Wachovia's annual report indicated that it paid no federal taxes on $3.6 billion in profits. A big chunk of its tax savings came from its $3 billion in leasing activities -- though how much was generated from cross-border deals like Bochum's is impossible to tell.)"
Wachovia will open wholesale and retail banking operations in President Bush’s home town areas of Dallas-Fort Worth, Houston, Austin and San Antonio, with its state headquarters in Dallas.
Last October, Grassley's Finance Committee hearing included testimony from an anonymous expert witness on how major U.S. companies receive huge tax deductions by pretending to lease the infrastructure of cities and foreign countries and then pretending to lease them back. These arrangements have resulted in U.S. taxpayers picking up the tab for a huge portion of Europe's transit infrastructure,
he said, and are now proliferating in cities across the country as tax shelter promoters shop their wares to cash-strapped local governments, he claimed. “The promoters are using the cities to defend their schemes by calling these deals ‘public-private partnerships’."
Grassley's international tax reform and domestic manufacturing tax relief bill -- known generally as the FSC/ETI bill and specifically as the Jumpstart Our Business Strength (JOBS) bill – is reportedly aimed at what he calls the loopholes that tax shelter promoters exploit for these leasing transactions. The Finance Committee passed the bill on Oct. 1, 2003. Since then, Grassley announced that he will change the effective date of his provision to Nov. 18, 2003, instead of the date of enactment, to dissuade a rush to market of last-minute deals designed to beat the legislation's effective date.
Fleming said the bill would impose broad and far reaching limitations on deductions allowable to property leased to or used in connection with the provision of services to state and local governments and other tax exempt entities. The elimination of the critical financial support these leasing transactions provide has not been replaced in either Sen. Grassley's or the President's budget with a plan for alternative financial support.
“Has anyone talked to these organizations to see how they are going to finance their projects? That side of the story that isn't being told,” said Fleming.
The Equipment Leasing Association is encouraging the very groups that stand to lose essential financial support that these leasing transactions provide, to object to the bill and budget proposals.
“Declarations in Congress have brought many pending agreements to a standstill without consideration of alternative sources of financing for hospitals, cities, schools and fire departments. They are the ones that are really going to be the losers in this,” said Fleming.
Senator Grassley’s response was to modify his proposal to reflect new findings received from the Treasury Department, allegedly showing that the leasing problem is far greater than previously known. The President's proposed Fiscal Year 2005 budget has now included Grassley's proposal “to clean up abusive leasing tax shelters, with an expansion to cover all foreign party leases and appropriate carve-outs.”
The President's proposal raises $33 billion over 10 years. In other words, according to Grassley, the leasing shelters are expected to deplete federal revenues by $33 billion over 10 years if Congress does nothing.
Earlier this month, U.S. Treasury Secretary John Snow testified before the Senate Budget Committee that “the leasing transactions are unacceptable tax avoidance schemes that need to be stopped" and pledged to work with Congress to end the practice. Budget Committee Chairman Don Nickles said he and the panel's ranking member, Kent Conrad, plan to take action “ to stop the tax avoidance practice,” according to media reports.
It looks like the only voice promoting the financial benefits of leasing
in Washington, D.C. is ELA president Mike Fleming.
Here are previous articles in Leasing News:
"2004 Industry Future Council Report – A Quest for Clarity"
The Equipment Leasing and Finance Foundation’s annual Industry Future
Council Report (IFC) is now available.
The IFC meeting, sponsored by American Lease Insurance, is a forum for industry leaders to develop a long-range view of the industry’s future, including the influencing forces, trends that will change the market, variables that will signal the pace and
direction of change, and the anticipated actions and reactions among
The 2004 Report indicates lessors are very confident that they have adequate capital to grow their business, and forecast further consolidation and decreasing number of lessors over the next three years. The leasing industry’s outlook for 2004 and beyond is showing signs
of encouragement and enthusiasm in the small and medium ticket segments,
while large ticket lessors remain under significant stress.
Find out what the IFC predicts for the leasing products, people and the environment.
For a full copy of the report, link to:
www.LeaseFoundation.org or call for a copy at 703-527-8655.
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After a long calm, the equipment leasing tide is finally on the
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### Press Release ###########################
CIT Names ADP's Gary C. Butler to Board of Directors
- Board Size Expanded to 11 Members -
LIVINGSTON, N.J., -- CIT Group Inc.
(NYSE: CIT) announced today that Gary C. Butler, President and Chief Operating
Officer of Automatic Data Processing, Inc., has been named to CIT's Board of
Directors. He will serve on CIT's Nominating and Governance Committee.
With Butler, CIT's Board of Directors expands to 11 members, including
nine independent directors plus Albert R. Gamper, Jr., Chairman and Chief
Executive Officer of CIT, and Jeffrey M. Peek, President and Chief Operating
"We are pleased to welcome Gary to CIT's Board of Directors," Gamper said.
"He brings experienced leadership, and his appointment demonstrates CIT's
continuing commitment to maintaining a strong, effective, diverse and
Butler has held positions of increasing responsibility during his 29-year
career at Automatic Data Processing (NYSE: ADP), one of the world's largest
independent computing services firms in the world. He was appointed President
& Chief Operating Officer in 1998 and previously served as Group President of
Employer Services and President of ADP Dealer Services Division.
CIT Group Inc. (NYSE: CIT), a leading commercial and consumer finance
company, provides clients with financing and leasing products and advisory
services. Founded in 1908, CIT has nearly $50 billion in assets under
management and possesses the financial resources, industry expertise and
product knowledge to serve the needs of clients across approximately 30
industries. CIT, a Fortune 500 company, holds leading positions in vendor
financing, U.S. factoring, equipment and transportation financing, Small
Business Administration loans, and asset-based and credit-secured lending.
CIT, with its principal offices in Livingston, New Jersey and New York City,
has approximately 6,000 employees in locations throughout North America,
Europe, Latin and South America, and the Pacific Rim. For more information,
SOURCE CIT Group Inc.
### Press Release ###################################
VICE CHAIRMAN ROBERT WALKER TO RETIRE; PHILIP FLYNN ELECTED VICE CHAIRMAN AND WILL ASSUME RESPONSIBILITY FOR COMMERCIAL BANKING; BRUCE CABRAL ELEVATED TO CHIEF CREDIT OFFICER
UnionBanCal Corporation (NYSE:UB) and its principal subsidiary, Union Bank of California, today announced that Vice Chairman Robert Walker, 62, will retire and that his successor, Philip B. Flynn, 46, executive vice president and chief credit officer, has been promoted to vice chairman and will assume responsibility for Union Bank of California's Commercial Financial Services Group, effective April 1.
Walker has been a member of the board of directors and has served as head of all commercial banking activities since he joined Union Bank in 1992.
Bruce H. Cabral, 49, executive vice president, will assume responsibilities as Union Bank's Chief Credit Officer, effective April 1, and join the bank's Executive Management Committee.
"Bob Walker's strong leadership, management skills, industry knowledge, and lending and credit experience have resulted in significant growth and positive financial results for our company," stated Norimichi Kanari, President and Chief Executive Officer. "During his tenure, our commercial loan portfolio more than doubled, and the bank's net income has increased more than five-fold, thanks in large part to the efforts of Bob and his commercial banking team.
"We thank Bob for his service to Union Bank's clients, our stockholders and our employees. He leaves a legacy of management expertise that has enabled the bank to achieve higher revenues, a reputation for superior customer service and improvements leading to greater operational efficiency. His insights will be missed. We also recognize the many contributions Bob has made to the banking industry at large over the past four decades. We wish him all the best in retirement," Kanari stated.
"Looking ahead, we anticipate a smooth transition since these changes are an integral part of the bank's succession plan. Phil brings a wealth of commercial lending and credit management experience to his new job and a proven track record of success. As chief credit officer for the past three years, Phil did an outstanding job in helping the bank manage asset quality and achieve improvements in its credit processes. Now as head of commercial banking, Phil and his team are crucial to our future. We have every confidence that they will continue to be leaders in performance and profitability," Kanari concluded.
In his new capacity as head of the bank's Commercial Financial Services Group, Flynn will oversee the following operations: Commercial Deposits and Treasury Management, Commercial Banking, Energy Capital Services, Equipment Leasing, Real Estate Industries, Corporate Capital Markets, which includes National Banking, Communications, Media and Entertainment, and Investment and Merchant Banking. The group's customers include middle-market companies, large corporations, real estate companies and other specialized industry customers. Specialized depository services are offered to title and escrow companies, retailers, domestic financial institutions, certain trustees and other corporate customers with significant deposit volumes.
It is further anticipated that Flynn will be elected to the Board of Directors of UnionBanCal Corporation and Union Bank of California on April 28, the day of the company's annual stockholders meeting.
Flynn joined Union Bank in 1980 after graduating from Claremont McKenna College. After completing the bank's management training program, he joined the energy department as an account officer on the utilities team. He was promoted to vice president in 1984 and named senior vice president and manager of the energy capital services division in 1987.
Flynn assumed additional responsibilities for the syndications department and the commercial finance division in 1996. He was promoted to executive vice president in September 1996 and in 1998 became head of the reorganized commercial banking group. In May 2000, Flynn was named head of the specialized lending group. In September 2000, he was appointed chief credit officer and head of the Credit Management Group. At the same time he was appointed a member of the bank's Executive Management Committee.
Cabral joined Union Bank in 1977 as a management trainee and later worked as a commercial loan officer and real estate lender. During his career, he managed the San Jose Loan Center and later was advanced to area manager for the San Jose and Irvine centers. Cabral was promoted to senior vice president in 1991. Two years later he was transferred to credit management where he began overseeing real estate underwriting bank wide. Cabral was appointed executive vice president in 2000. In November 2002, he was named Deputy Chief Credit Officer. He is a graduate of Stanford University.
Walker has 40 years of banking experience in a variety of senior and executive positions. He joined Union Bank in 1992 from Valley National Bank of Arizona, where he served as vice chairman and chief credit officer. He served previously as executive vice president and chief credit officer at Wells Fargo Bank and served in the same capacity at the former Crocker National Bank.
Based in San Francisco, UnionBanCal Corporation (NYSE:UB) is a bank holding company with assets of $42.5 billion at December 31, 2003. Its primary subsidiary, Union Bank of California, N.A., has 280 banking offices in California, 4 banking offices in Oregon and Washington and 21 international facilities. The company's web site is located at www.uboc.com.
CONTACT:UnionBanCal Corporation Stephen L. Johnson, 415-765-3252 (Public Relations) Joanne C. Curran, 213-236-5017 (Public Relations) John A. Rice, Jr., 415-765-2998 (Investor Relations)
SOURCE: UnionBanCal Corporation
##### Press Release ################################
Bank of Hawaii Implements Quiktrak's PDA/Web-Based Inventory Management Solution
LAKE OSEWGO, Ore.----Quiktrak, a leading provider of inventory auditing solutions, announced today Bank of Hawaii has selected and successfully implemented Quiktrak's Revoquest(TM) auditing system. By doing so, Bank of Hawaii takes advantage of the latest auditing innovations developed by Quiktrak's Revoquest division.
Bank of Hawaii auditors will use PDA computers equipped with the Revoquest auditing technology to collect audit results electronically, and then post these results to the web real time. Field auditors will be able to take advantage of extensive risk management tools via on-screen warnings or printed reports that include access to historical audit data. Internal staff can then view and update the results immediately, in addition to monitoring inventory risk through a variety of built-in risk management tools integrated in the web-based interface.
"At Bank of Hawaii we strive to be more efficient, reduce risk and reduce expenses in our floor plan audit process, and Quiktrak has given us that. Additionally they have improved quality of information available to our customers" said Byron Hansen, Vice President of dealer commercial services.
Thirteen years of experience in the industry have provided Quiktrak a unique perspective into dealer auditing dynamics and has allowed them to develop a system that protects clients from dealer liability.
"Bank of Hawaii brings a well respected brand in the banking industry to our client list, and we are proud to partner with them," states Matt Hennessee, President & CEO of Quiktrak, Inc. "It is our mission to continually enhance our system to ensure that our client's auditing processes are streamlined, efficient and insightful, while at the same time providing the very best customer service possible."
About Bank of Hawaii
Bank of Hawaii Corporation is a regional financial services company serving businesses, consumers, and governments in Hawaii, American Samoa, and the West Pacific. The company's principal subsidiary, Bank of Hawaii, was founded in 1897 and is the largest independent financial institution in Hawaii. For more information about Bank of Hawaii Corporation, visit the company's web site, http://www.boh.com.
Quiktrak is the leader in providing inspection and inventory auditing services for financial institutions, manufacturers, and leasing firms throughout the U. S., Canada, and internationally. With a vast auditing field force, Quiktrak is able to provide the industry's fastest, most accurate and reliable service. Founded in 1991, Quiktrak offers services to many of the world's leading financial institutions, including several Fortune 500 companies.
Revoquest, a division of Quiktrak, provides leading-edge technology utilizing PDA's and a web-based interface for the inventory auditing industry. Current products include a mobile workforce auditing application that interfaces PDA's (both Palm and Pocket PC platforms) in the field with a web-based host running as an ASP. Revoquest is able to offer tech-only solutions to companies with existing audit staffs, or full-service solutions to companies wanting the technology and the audits conducted by Quiktrak.
For more information on either Quiktrak or Revoquest, please visit them on the web at www.quiktrak.com and www.revoquest.com, or via phone at 800-927-8725 (US) / 503-968-9800 (International).
CONTACT:Quiktrak Shari Soyk, 800-927-8725 (US) 503-968-9800 (International)
### Press Release ###################################
Number of Mass Layoffs Rose Sharply in January
A Call To Rein In Social Security
US mortgage-backed prices higher, spreads narrower
Home Sales Declined 5.2% in January
AT&T foresees turnaround in '06
AT&T to slash 4,600 jobs http://money.cnn.com/2004/02/25/news/companies/att_jobs.reut/index.htm
Boards open up to women
But California, with best tally in U.S., clocks only 14.3%
Tyco Officer Defends Kozlowski's Spending
USC's Mike Williams to Enter NFL Draft
“Gimme that Wine”
White Burgundy by Frank J. Prial
His book, not only one of the best, but easy to read,
as it is basically a collection of his NY Times columns http://www.nytimes.com/nytstore/books/cooking/NSDECBK.html
This Day in American History
=========Civil War—including pre and post=========
=========World War I --pre and post=========
1732- Mass was celebrated for the first time at St Joseph's Church , in Philadelphia the only Roman Catholic church built and maintained in the American colonies before the Revolutionary War.
the number of white inhabitants of all the colonies to be 1,165,000,
and the blacks (who were mostly slaves) to be 260,000, distributed as
1829- Bavarian immigrant Levi Strauss was born this day in 1829. He created the world’s first pair of jeans—Levi’s 501 jeans—for California’s gold miners. They were made of sail canvas and rivets were used along with sail making thread. He dyed them blue to hide the marks from the riveting apparatus, plus to make them appear more attractive. The pants style is still popular today,
but now in “designer” styles from full boot to slim leg and more.
1846- George C. Stebbins, American Baptist music evangelist, birthday. A composer of over 1,500 songs during his lifetime, Stebbins is still remembered today for writing the melodies to such hymns as: "I've Found a Friend," "Take Time to Be Holy," "Have Thine Own Way, Lord" and "Jesus is Tenderly Calling Thee Home."
1846- William F. “Buffalo Bill” Cody birthday at Scott County, Iowa. He claimed to have killed more than 4,000 buffaloes. Subject of many heroic Wild West yarns. Cody became successful as a showman taking his acts across the US and to Europe.
=========Civil War—including pre and post=========
1870- the first pneumatic subway invented by Alfred Ely Beach, known first as the Beacg Pneumatic Underground Railway, was opened to the public in New York City. It consisted of a circular tube nine feet in diameter and the cars, which were well upholstered, carried 222 person s each way. They were propelled by a rotary blower that drove a blast of air through the tunnel against the rear of the car, carrying it along “ like a sailboat before the wind.”
1870 -- Wyatt Outlaw, black leader of Union League in North Carolina, is lynched. Wyatt Outlaw, the Negro police officer who had fired upon the Klansmen at their first appearance in the county, was head of the Union League, an anti-Ku Klux Group in the County. His death had been determined by certain members of one of the Klan orders. A party of them rode into Graham on the night of February 26, 1870, seized Outlaw in his home, and carried him to a tree in the courthouse square. There they hanged him, leaving on his breast the inscription: "Beware, ye guilty, both black and white.” Many blacks were killed by the Klan, and Black homes and property burned/destroyed for the next sixty-five years, into the late 1920’s.
1873--By the year the American bison, also called the buffalo, was almost extinct, even though at the start of the nineteenth century estimates placed the North American bison population as high as 60,000,000. Bison were essential to the way of life of the Indians of the Great Plains, who depended on them for food, clothing, and shelter. The symbiotic relationship of the Indians and the bison threatened neither group. However, with the coming of the railroad, professional buffalo hunters, and the settlement of the West, the situation changed. Bison were slaughtered far beyond any’ need for food or hides. Although in 1865 about 10,000,000 bison still roamed the plains, by 1890 only 1000 or so were left.
1887- Grover Cleveland “Pete” Alexander, Baseball Hall of Fame pitcher born at Elba, NE. Alexander won 373 games ( tied for 3rd on all time list) pitching for 20 years with the Philadelphia Phillies, Chicago Cubs and the St. Louis Cardinals. he won 30 or more games three times and won the National League earned run average title five times. In Game Seven of the 1926 World Series with St. Louis ahead, 3-2, he staggered in from the bullpen to strike out the New York Yankees’ Tony Lazzeri with the bases loaded and held New York at bay for the last two innings. Ronald Reagan played Alexander in the moving, The Winning Team. Inducted into the Hal of Fame in 1938. Diet at St. Paul, NE, Nov 4.1950.
1905-violinist/producer Bill Russell born, Canton, MO
1907 - The United States Congress raised their pay to $7500, for both House and Senate members. The Cabinet members and the Vice President earned twelve thousand. At that time, the Vice President was paid enough to buy half a dozen houses. The richest man in the world, John D. Rockefeller's oil fortune was, at that time, worth no more than $300 million.
=========World War I --pre and post=========
1910 - Parts of Washington State were in the midst of a storm which produced 129 inches of snow at Laconia between the 24th and the 26th, a single storm record for the state. A series of storms, which began on the 23rd, led to a deadly avalanche on the first of March. By late on the 28th, the snow had changed to rain, setting the stage for disaster.
1916- American musician, comedian and actor, Herbert John "Jackie" Gleason was born at Brooklyn, NY. Best known for his role as Ralph Kramden in the long-running television series "The Honeymooners." Died at Fort Lauderdale, FL, June 24, 1987.
1917- first jazz record of history: Original Dixieland Jass Band cuts “Livery Stable Blues, “ One Step, “ NYC
1919- Grand Canyon National Park was established, by an act of Congress, An immense gorge cut through the high plateaus of northwest Arizona by the raging Colorado River and covering 1,218,375 acres, Grand Canyon National Park is considered one of the most spectacular natural phenomena in the world.
1919 -the Lafayette National Park was established, later renamed in 1929, the Acadia National Park, the largest East of the Mississippi
1925 – Alto Sax player James Moody Birthday
1926-First Black middle-weight boxing champion, Theodore "Georgia Deacon" Flowers. Also known as “Tiger” Flowers. He beats Harry Greb in New York, NY to win the title “ -Middleweight Championship of the World>”
1929- Antoine (Fats) Domino birthday, the New Orleans r'n'b pianist who has sold more than 65-million records, was born in the Louisiana city. He is the biggest-selling '50s rock 'n' roll artist, with the exception of Elvis Presley. By the time he joined trumpeter Dave Bartholomew's band in the 1940's, he had already mastered the classic New Orleans piano style of such performers as Professor Longhair and Amos Milburn. In 1949, Fats Domino had his first million-seller, "The Fat Man." But it wasn't until 1955, with "Ain't That a Shame," that he attracted the white record- buying public. Domino eventually collected 23 gold singles, for such hits as "I'm In Love Again," "Blueberry Hill" and "I'm Walkin'."
1930 - Seven years after Garrett A. Morgan invented traffic lights, the first red and green signal lights were installed on New York's Manhattan street corners.
1932- country singer Johnny Cash was born in Kingsdale, Arkansas. In 1954, Cash met guitar player Luther Perkins and bass player Marshall Grant. As Johnny Cash and the Tennessee Two, they sold a million copies of "I Walk the Line" on the Sun label in 1956. Cash signed with Columbia in 1958, and two years later drummer W.S. Holland was added to make the Tennessee Three. Cash's string of hits for Columbia have included "Ring of Fire," "A Boy Named Sue" and "Folsom Prison Blues." Johnny Cash's records have always been on the border of rock, and have often crossed over to the pop charts. The marching bass lines which characterize many of Cash's songs influenced the work of Waylon Jennings and others in the outlaw country movement of the 1970's. In 1994, Cash's career was revived with the release of "American Recordings," an album of just the singer and his guitar. It was embraced by everyone from traditional country fans to alternative rockers.
1934 - Federal Communications Commission was created at the order of President Franklin D. Roosevelt, to oversee communication by radio, wire or cable. TV and satellite communication later became part of its charge.
1935—Babe Ruth, Babe Ruth signed a three –year contract with the Boston Braves , after being released by the New York Yankees. He played in only 28 games before retiring in May.
1936- Wallace “Buddy” Werner, skier born at Steamboat Springs, CO. Werner skied on three US Olympic teams and was the first American to break into the sport’s top rank by winning important races in Europe. While filming a ski movie, he was overtaken by an avalanche that he attempted to outrace. Died at St. Moritz, Switzerland, April 13, 1964.
1937- Canadian composer, arranger and vibraphonist Hagood Hardy was born in Angola, Indiana. He grew up in Oakville, Ontario and from 1957 to 1961, while studying at the University of Toronto, he had his own jazz group. From 1961 to '67, he performed in the US with such musicians as Gigi Gryce, Herbie Mann, Martin Denny and George Shearing. Hardy returned to Canada in the late '60s, becoming a leading composer of radio and TV jingles. In 1975, his single "The Homecoming," written three years earlier as a Salada Tea commercial, became an international hit. The song won Hardy Juno Awards as best composer and best instrumentalist, and Billboard magazine named him instrumentalist of the year. Hardy died of cancer in Hamilton on January 1st, 1997.
1942 - The Academy Awards were presented, for movies that were shown in theatres during 1941. "How Green Was My Valley" won the award for Best Picture. The star of "Sergeant York", Gary Cooper, took home the Oscar for Best Actor and The Best Actress statue was presented to Joan Fontaine for her performance in "Suspicion". "How Green Was My Valley" garnered Oscars for Best Supporting Actor, Donald Crisp and Best Director, John Ford. Mary Astor was voted Best Supporting Actress for her role in "The Great Lie".
1943-guitarist/harmonica player Bob “the Bear” Hite, born
Torrance, CA Died April 5, 1981. Canned Heat lead singer.
1944- Sue Sophia Dauser, superintendent of the US Navy’s Nurse Corp, was the first woman to receive the rank of Captain. On December 14, 1945, she became the first Navy nurse to receive the Distinguished Service Medal. 1942 - The Academy Awards were presented, for movies that were shown in theatres during 1941. "How Green Was My Valley" won the award for Best Picture. The star of "Sergeant York", Gary Cooper, took home the Oscar for Best Actor and The Best Actress statue was presented to Joan Fontaine for her performance in "Suspicion". "How Green Was My Valley" garnered Oscars for Best Supporting Actor, Donald Crisp and Best Director, John Ford. Mary Astor was voted Best Supporting Actress for her role in "The Great Lie".
Accentuate the Positive - Bing Crosby & The Andrews Sisters
I Dream of You - The Tommy Dorsey Orchestra (vocal: Freddy Stewart)
Don’t Fence Me In - Bing Crosby & The Andrews Sisters
I’m Losing My Mind Over You - Al Dexter
1945- Wood Herman cuts “Caldonia.” 1951 - James Jones' novel, ‘From Here to Eternity,’ about military life in Hawaii just before the bombing of Pearl Harbor, was published in New York by Scribners.
1947-harmonica player Paul Oscher born, Brooklyn, NY
1951 - James Jones' novel, ‘From Here to Eternity,’ about military life in Hawaii just before the bombing of Pearl Harbor, was published in New York by Scribners.
Don’t Let the Stars Get in Your Eyes - Perry Como
Till I Waltz Again with You - Teresa Brewer
Keep It a Secret - Jo Stafford
Kaw-Liga - Hank Williams
1955-Billboard reports for the first time since their introduction in 1949, 45 rpm discs are outselling the old standard 78. Another change in the industry is also noted. On some New York City jukeboxes, it now costs ten cents instead of five cents to play a record
1960, David Jenkins of the US won the gold medal men’s figure skiing at the VIIth Winter Olympics at Squaw Valley, Ca.
Pony Time - Chubby Checker
There’s a Moon Out Tonight - The Capris
Surrender - Elvis Presley
North to Alaska - Johnny Horton
1962 - In New York City, the Best Play award winner of 1962, "Oh Dad, Poor Dad, Mama’s Hung You in the Closet and I’m Feeling So Sad" opened for 454 performances.
1965-Nineten year-old Jimmie Lee Jackson was killed by state troopers at a voting rights demonstration in Marion, Alabama. As a result, the Selma-to-Montgomery march was organized and took place a month later -- when Dr. King led 20,000 marchers 50 miles east from the Edmund Pettus Bridge in Selma, Alabama, to the state capitol in Montgomery. Five months later, President Johnson signed the Voting Rights Act, and by year's end, more than 250,000 new black voters were registered
Everyday People - Sly & The Family Stone
Build Me Up Buttercup - The Foundations
Can I Change My Mind - Tyrone Davis
Until My Dreams Come True - Jack Greene
1969 -the "100 hour snowstorm" was in full swing across the Boston area and the rest of New England as well. By the time snow ended on the 28th, Boston recorded 26.3 inches of new snow. Pinkham Notch, New Hampshire was buried under and incredible 77 inches and Long Falls Dam, Maine reported 56 inches. Both Portsmouth, New Hampshire and Portland, Maine set new single storm snowfall records with 33.8 inches and 26.9 inches, respectively. Rockport, Massachusetts measured an impressive 39 inches.
1972 - Harry Nilsson began week #2 at number one with "Without You"; a love song that spent four weeks at the top spot.
1972 -the "Buffalo Creek Disaster" occurred in the Buffalo Creek Hollow of Logan County in West Virginia. A coal slag dam on the middle fork of Buffalo Creek burst sending a 50 foot wall of water down a narrow valley killing 125 people and causing 51 million dollars damage. 3 days of rain atop 6 inches of snow cover prompted the dam break.
1973-Football player and golfer, Marshall Faulk, born New Orleans, LA.
New Kid in Town - Eagles
Love Theme from "A Star is Born" (Evergreen) - Barbra Streisand
Fly like an Eagle - Steve Miller
Say You’ll Stay Until Tomorrow - Tom Jones
1979 - The sitcom, "Flatbush", first aired on CBS-TV, featuring the exploits of five, recent, high-school graduates living in a middle-class, Italian neighborhood in Brooklyn New York’s Flatbush area. *(Joseph Cali/costar) Presto Prestopopulos, taxi driver and one of five street youths recently graduated from high school who lived in the middle-class Italian neighborhood of Flatbush (Brooklyn). Calling themselves the Flatbush Fungos, the gang also included Adrian Zmed as Socks Palmero, a clothing store employee; Sandy Helberg as Figgy Figueroa, a grocery deliveryman; Randy Stumpf as Joey Dee, a plumber's assistant; and Vincent Bufano as Turtle Romero, a restaurant worker. Also featured were Helen Verbit as Mrs. Fortunato, the neighborhood busybody; and Anthony Ponzini as Esposito, a pool hall owner. The ethnic stereotypes the show portrayed offended Brooklyn’s Borough president, who demanded the series be taken off the air before it gave Brooklyn a bad name. In 1979, Brooklyn was known as the garden spot of the United States. CBS cancelled the show after 3 episodes.
1983 - Charley Pride’s "Why Baby Why", written by George Jones and Darrell Edwards, topped the country music charts. Jones found national fame in the United States with his own version of the song in 1955.
1983 - Michael Jackson’s "Thriller" hit #1 in the U.S. The album spent a total of 37 weeks at number one. The tracks: "Wanna Be Startin’ Somethin’", "Baby Be Mine", "The Girl is Mine" (w/Paul McCartney), "Thriller", "Beat It", "Billie Jean", "Human Nature", "P.Y.T. (Pretty Young Thing)", "The Lady in My Life". At last count (2001), "Thriller" was certified for sales of more than 26 million copies by the Recording Industry Association of America, and was in a tie with the Eagles’ "Their Greatest Hits 1971-1974" as the best-selling album of all time.
1984 - The last United States Marines in the multinational peacekeeping force in Lebanon left Beirut.
Careless Whisper - Wham! featuring George Michael
Loverboy - Billy Ocean
Can’t Fight This Feeling - REO Speedwagon
Baby’s Got Her Blue Jeans On - Mel McDaniel
1985 - Tonight was the night of the seventh highest-rated television music show of the 1980s, when a 23.8 share of the viewers watched "The Grammy Awards". The Best Pop Vocal Performance by a Male award was given to Phil Collins for, "Against All Odds (Take a Look at Me Now)"; Best New Artist for 1984 went to Cindi Lauper, and Best Album of the year award went to Lionel Richie for "Can’t Slow Down". Tina Turner was a big winner, taking Best Song, Best Record and Best Pop Vocal Performance by a Female for "What’s Love Got to Do with It".
1986- Robert Penn Warren, the first official poet laureate of the United ,was named by the librarian
of Congress, and great historian, Daniel J. Boorstin. Warren was born in Guthrie, KY, in 1905 and won three Pulitzer Prizes, two for volumes of Poetry, and one for his 1946 novel, All the King’s Men.
1987-The Tower Commission report on the Iran-Contra affair was critical of Pres. Reagan for failing to understand or control the secret attempt to trade arms to Iran for the release of American hostages being held in Lebanon and divert profits from the sale to the Nicaraguan Contras. The commission appointed by the President in Nov. 1986, said Reagan must take responsibility for the policy, which ended in “chaos” and caused the U.S. much embarrassment abroad. Blame was placed also on Donald T. Regan, the White House chief of staff, whom the president replaced with former Senator Howard H. Baker, Jr., on February 27. It also faulted former National Security Advisor Robert McFarlane & his successor Admiral John Poindexter, and CIA Director William Casey. Casey had resigned on 2 February for health reasons; McFarlane attempted suicide on 9 February; and Regan resigned 27 February. In a television address on March 4, the president said he too “ full responsibility, “ but he did not admitting that the plan for dealing with Iran was basically wrong.
1988 - Eight cities in the central and western U.S. reported new record high temperatures for the date, including Lamoni IA with a reading of 67 degrees. Temperatures in North Dakota were as warm as those in Florida.
1989 - An upper level weather disturbance brought snow to parts of the central U.S. which just one day earlier were enjoying temperatures in the 60s. Snowfall totals in Missouri ranged up to nine inches at Rolla.
1990 - Unseasonably cold weather followed in the wake of the winter storm in the northeastern U.S. Ten cities reported record low temperatures for the date, including Syracuse NY with a reading of 10 degrees below zero. Freezing temperatures in southeastern Virginia caused considerable damage to plants and fruit trees. The barometric pressure reading of 30.88 inches at Wilmington NC was February record for that location.
1991 - "Rockline on MTV" premiered with host, Martha Quinn, giving viewers a chance to talk to the stars. The first guest was MC Hammer.
1991- Tim Berners-Lee introduces the Web browser:
Tim Berners-Lee presented an early version of a Web browser to a work group at CERN, the European Particle Physics Laboratory in Geneva, Switzerland, on this day in 1991. He conceived the Web as a way for physicists at different universities around the world to instantaneously share information. Throughout the next year, he modified the architecture, released early Web browsers on the Internet, and solicited feedback and input from Internet programmers. By late 1991 and early 1992, the Web was widely discussed, and in early 1993, when Marc Andreessen released his Mosaic browser (Netscape's precursor), the Web rapidly became a popular communications medium.
1993-World Trade Center Bombing: A 1,210-lb bomb packed in a van exploded in the underground parking garage of the World Trade Center in New York City, killing six people and injuring more than 1,000 (mostly from smoke inhalation). The powerful blast left a crater 200 feet wide and several stories deep. The cost for damage to the building and disruption of business for the 350 companies with offices in the Center exceeded more than $591 million. Fifteen people--the fundamentalist Moslem cleric Sheik Omar Abdul Rahman and fourteen of his followers--were indicted for the bombing. Rahman was given a life sentence and the others received prison terms of up to 240 years each. This is considered the first bombing of the United States by foreign terrorists.
1997- Celine Dion won two Grammy Awards for "Falling Into You" - album of the year and best pop album. At the time, "Falling Into You" had sold more than 21 million copies worldwide.